We are very pleased to announce that The Access Bank UK has joined Faster Payments, the UK’s 24/7 real-time payment service. The Bank has become a direct participant of Faster Payments, making it the 24th participant in the UK.
Faster Payments Scheme Limited (FPSL) is the company that enables mobile, internet, telephone and standing order payments to move quickly and securely, almost at the touch of a button, 24 hours a day. At its launch in 2008, Faster Payments was the first new payments service to be introduced in the UK for more than 20 years.
The Access Bank UK’s Managing Director and Chief Executive Officer, Jamie Simmonds said:
“This is a great landmark for us, which means our customers can now process these transactions, a move which follows a year of significant all-round growth for us in 2017.
We have a clear commitment to strong customer service and we anticipate and respond quickly to market needs with the right technology, products and services. Joining Faster Payments is a clear example of meeting the needs of our customers”.
This completes our transition to become a direct member of the UK clearing system which will offer an enhanced level of service to our customers and deliver further sustainable growth to our business.
John Jefferson, General Manager of Faster Payments said:
“We welcome The Access Bank UK to Faster Payments as our newest direct participant and the latest challenger bank to offer a truly real-time payments service.
“The Access Bank is the fifth participant to join Faster Payments during 2018 so far and several more are in the pipeline for this year and next. It further demonstrates Faster Payments’ success in levelling the playing field on access.
“We’re excited to continue to welcome a diverse set of new PSPs as the New Payment System Operator enables a vibrant UK economy.”
About Faster payments:
Faster Payments is the only UK payment system available day and night, 365 days per year, supporting the demands of personal and business customers. In 2017, Faster Payments processed 1.65 billion payment transactions with a value of £1,396 billion.
Since 1 May 2018, Faster Payments Scheme Limited (FPSL) has been part of the New Payment System Operator, the company established to consolidate the UK’s retail payment schemes (along with Bacs Payment Schemes Limited (Bacs), the Cheque & Credit Clearing Company (C&CCC) and UK Payments Administration (UKPA).